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Legend Entertainment Group intends to acquire 30% stake in TVB TVB will go from here

Hongkong TV entertainment group TVB previously announced plans to repurchase 4 billion 200 million, has recently made new progress.

legendary pictures and entertainment group announced in February 7th to TVB issued a preliminary letter, is it put forward voluntary conditional cash offer to acquire part of TV broadcasting in the capital of 29.9% formal discussion, and to the shareholders rejected the repurchase as the main conditions.

if the deal finally reached the legendary pictures and entertainment group, will become the single largest shareholder of TVB. In the legendary pictures after the announcement, TVB issued the notice said, the transaction the buyer does not smell, the company will take measures to evaluate possible suggestions is credible and the implementation, so far has not received any notice about the really acquired or proposed, and TVB will resume trading today.

 

This is not the legendary

Wanda had acquired legendary pictures, the legend of the background of the group is quite mysterious, the legendary pictures of directors and non-executive directors respectively Haocai Wei and Tong Weijin, mainly engaged in the cultural industry and the real estate development and investment business. When President Xi Jinping visited Britain in 2015, the company said it would visit britain. Since then, its founder Zhou Yiqiang had publicly claimed to be the acquisition of the Premier League Manchester United, but no substantive progress.

Television Broad-casts Limited (Television Broadcasts Limited), referred to as TVB, in 1967 by Li and Qi Dezun, Run Run Shaw and others founded. Since founding TVB, Zhou Runfa, Stephen Chow, Tony Leung foster, Andy Lau, Liza Wang and other stars have a number of TVB per year produced more than 650 hour drama and over 17000 hours of news, entertainment, tourism and information entertainment program production line. Among them, the TV series for the production of TVB brand products, has been affecting Hongkong and the global Chinese community.

The effects of

and TVB in the ATV, as Hongkong’s largest TV station, has been in a stable profitability, although the performance in recent years does not appear substantial growth phenomenon, but no serious decline. April 2015, Li Ruigang, the leader of the Chinese Cultural Fund has shares TVB, the move was interpreted as the intention of the TVB with the help of the relationship between the re opening of the mainland market. In October 2016, TVB announced the appointment of Li Ruigang as a non-executive director and vice chairman of the company.

According to the

analysis of Hongkong Ming Pao, if regulators confirm the legend’s offer, TVB earlier proposed repurchase program, will hinder the behavior of the offer, the negative repurchase, so legendary pictures and led by Li Ruigang et al TVB, in front of the regulators will struggle.

TVB shares repurchased by the news to stimulate, the share price rose, as of press time at about HK $30.5.

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